You might want to check your calculator.
Mine says $50,000,000 x 1.5% = $750,000
Having said that I think the realistic cut of the $50,000,000 is derived from the 0.7% mentioned in the MC and FSC deals and so will be more in the order of $350,000 which is more as you point out than last quarters revenue.
Hope that helps and I do agree with you. People need to realise $100m deals don't net $100m.
Ann: Extended Voluntary Suspension, page-159
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